IMF

Washington, DC— In reaction to World Bank President Jim Kim's announcement  of a new interim target of cutting global poverty to 9% by 2020, Oxfam spokesperson Raymond C.

Ahead of the Annual Meetings, international agency Oxfam urged the World Bank to sharpen and swiftly move forward on the new strategy to end poverty by 2030 and boost shared prosperity.

Thirty-two months remain to the deadline for reaching the Millennium Development Goals. This report is the first ever to track what developing countries are spending on the MDGs.

The World Bank and International Monetary Fund need to ditch the ‘trickle down’ economics of the past and lead the fight against inequality if they are serious about the new target to end extreme poverty by 2030.

The World Bank and IMF must step up their support for developing countries who are struggling with spiking food prices along with the fallout from Europe’s fiscal crisis, Oxfam said ahead of the annual meeting of the institutions in Tokyo this week.

Incoming World Bank president Jim Yong Kim must step up efforts to assist developing countries threatened by the euro zone crisis fallout, international agency Oxfam said ahead of his first day on the job.

Oxfam spokesperson Carlos Zarco said:

EU Finance Ministers today adopted a report on Europe’s progress towards its share of the $30 billion promised by rich countries at the 2009 Copenhagen climate summit to help poor countries

Oxfam spokesperson Caroline Pearce said:

On economic growth:

Oxfam’s Sarah Wynn-Williams said: “This farcical appointment process has damaged the IMF’s credibility.